Need for Special Meeting VoteSedar.com lists only two support agreements in favor of the Transaction (Rayray Investments and Zola Finance). Together these shareholders own 25% of MedReleaf's total outstanding shares. Where I am getting confused is that the Arrangement Agreement filed on sedar.com states that in addition to these two shareholder support agreements, 56% of MedReleaf's issued and outstanding common shares have entered into irrevocable hard lock-ups to vote their shares in favour of the Transaction. Does this mean 25% + 56% = 81% of shares have already voted for this transaction. If so, why the need for a special meeting to ensure that 66 2/3% vote yes as required by way of Plan of Arrangement under the Business Corporations Act?
Transaction Summary as reported on sedar.com...
"Directors and officers of Aurora and MedReleaf have entered into support agreements pursuant to which they have agreed to vote their shares in favour of the Transaction. In addition, holders of approximately 56% of MedReleaf's issued and outstanding common shares have entered into irrevocable hard lock-ups to vote their shares in favour of the Transaction."